EBRD to finance 28 MW solar project in Kazakhstan
The European Bank for Reconstruction and Development (EBRD) has announced that it has signed loan and project support agreements for a new solar plant to be built in southern Kazakhstan. The plant will have an installed capacity of 28 MW, contributing to Kazakhstan's leadership in the field of solar power generation in Central Asia.
The financing will be provided in local currency, Kazakh tenge, for up to an equivalent of US$35 million on a project finance basis.
The solar project is sponsored by Nomad Solar LLP, a special purpose company incorporated in Kazakhstan and owned by Total Eren SA and Access Infra Central Asia Ltd.
Nomad Solar will construct and operate the solar plant, located in the Kyzylorda region of southern central Kazakhstan. The plant’s operations will lead to a reduction of annual CO2 emissions by 47,800 tonnes.
Country updates
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